It’s almost 1099 deadline time! Have you sent your 1099′s out to your contractors? If not, you may want to take a look at them again. Why? Read on…
Also, what did you think of the State of the Union address? If you’re like other small business owners, you may not have been completely happy with it. Also below find some great posts and a solid tip on why you should get out of the office soon!
Tax Watch
If you’re sending out 1099s this year, there’s one sure fire way you can anger all your recipients at once: revised 1099s! Nothing is more infuriating than getting a 1099 in the mail, using it to file your taxes, then getting a SECOND one a few days later announcing all the previous info was wrong.
This is why it’s incredibly important to get everything correct in the first place. You only have a few days left to send those things out, too, so time is running short. But you still have a moment to go back over your info and make sure what you’re sending out is 100% right. Otherwise, you’re going to have some very angry contractors and freelancers banging down your door.
Around the Entrepreneur Web
Is Affiliate Marketing a Useful Tool? – Is affiliate marketing worth the trouble of collecting sales tax from across the country? Also look for a great mention of Outright – our second in the New York Times blog!
Save Money with Not So Extreme Couponing – We’re all feeling the pinch right now. Why not save some money with some simple savings with coupons?
Why Kodak Failed – And How to Avoid the Same Fate – It was a sad day last when former film giant Kodak filed for Chapter 11 bankruptcy. To avoid the same perils they face, make sure to check out this blog over at CBS News.
American Business: Shining Example – Speaking of avoid the perils of going out of business, watch this video to learn how the evolution of your company could be the very thing that ensures its survival.
Small Business News of the Week
What did you think about the State of the Union address? Many small business owners were a little torn, for multiple reasons. For one, some felt that lumping tiny businesses around the world with what Steve Jobs accomplished was a little unfair. Not every company is aimed to take over the world, and not every business owner wants that anyway!
Another problem: no solutions on how to end federal contract abuse. These contracts are meant for small businesses, but recent studies have shown that large businesses receive a large percentage of federal help. Despite talk how it should be fixed, nothing substantial has been done, and owners were again left in the cold with no mention of the abuse during the speech.
Overall, while it was appreciated by small business owners to be acknowledged during the speech, the President received a lukewarm response from the community. During these tough times they need something to sink their teeth into, not promises of programs and pie in the sky goals.
Outright Pro Tip of the Week
Stuck indoors because of the wintry weather? While it’s easy to call it a day and not go out of the door until the chill thaws, it’s still important to remember you have to interact with humans once in a while. So why not do that while having fun at a trade show?
Trade shows can be some of the best places to find not only business contacts and colleagues but also good friends who you share many interests with. Plus, no matter your field, there’s bound to be a myriad of shows around the country (and the world), so you’re bound to find at least one you can attend. They’re a good way to get out of the office for a while and remind yourself why you got into business in the first place: doing something you love!
That’s all for today’s Outright Weekly Round Up. See you next week, and don’t forget to check out our Tax Resource Center!